As unpleasant as it might be to consider, the simple truth is that standard condo association insurance might not be enough to protect against a large claim. Such a situation could be exacerbated if your association faced multiple claims at once. What’s the answer? Condo association umbrella insurance.
As with personal or business umbrella insurance, a condo association umbrella policy starts paying once standard coverages reach their limits. Umbrella policies offer multiple supplemental coverages, including some that might be excluded from standard insurance.